Hex Trust Introduces New Institutional Custody Solution

Hex Trust Introduces New Institutional Custody Solution

Hex Trust announced the launch of a new institutional custody solution that balances between secure access and the ease of use. This new solution, based on technology from IBM, aims to allow banks, funds, and exchanges access to the full breadth of digital assets, including tokens that represent a diversity of holdings such as commodities, companies, real estate, traditional currencies, and cryptocurrencies.

With the rise of digital platform banking, fintechs are bringing blockchain services that seek to upend the establishment with new forms of capital formation, liquidity, and payments. Assets such as stocks, bonds, securities, mortgages, treasury bills, and debentures are still difficult and costly to transfer and to subdivide. Hex Trust is helping to transform to the next generation of custody financial infrastructure for virtual currencies, securities, and new asset classes like digital wills, tokenized gold stable coins, artwork, and real property. 

Hex Trust will provide on-demand warm wallets that remove cold storage human attack vectors; bespoke and immutable risk-based approval policies for transactions, operations and administration; and support for any form of digital asset. Beyond safeguarding private keys, Hex Safe is designed to offer trusted payments, staking, loans, collateral, corporate actions, multi-custodian settlement, and other capabilities that can provide financial returns for assets under management.

Hex Trust's institutional custody solution will be secured by IBM Hyper Protect Services including enterprise scale protected memory enclaves, designed with FIPS 140-2 Level 4 hardware security modules, and industry-leading data confidentiality and support for regulatory compliance through strict controls on external and privileged user access to sensitive data such as account profiles, transaction approval rules, AML ratings, KYC documentation, compliance/audit and statement data. IBM developers worked with Hex Trust to optimize the technology for this new solution.

"Through our relationship with IBM as a Business Partner Hex Trust has hit a key milestone. Leveraging IBM's advanced data security and protection features through IBM™ Hyper Protect Virtual Servers with the dynamic accessibility and scalability, Hex Trust's proprietary platform will encourage regulated financial institutions to enter the space," said Alessio Quaglini, CEO of Hex Trust.

"Data privacy and protection are key concerns for enterprises and customers within the digital asset business," highlights Ross Mauri, General Manager for IBM Z. "By taking advantage of IBM Hyper Protect Services, Hex Trust can gain the benefits provided by the security and privacy solutions underpinned by IBM LinuxONE, to establish a highly secured platform for their institutional custody solution."

With this announcement, Hex Trust aims to bring on-demand solutions providing immediate access, scalability and enhanced security to financial institutions leveraging their digital asset business models on custody.


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